Opinion
Gen. No. 41,003. (Abstract of Decision.)
Opinion filed June 24, 1940
BANKING, § 164 — preference upon insolvency. Preferred claim against insolvent bank was properly disallowed below, where deposit was made on alleged agreement of bank to give security, as a loan upon such promise would not create a preference, and deposit on agreement to pledge assets would be unlawful, and another transaction whereby plaintiff purported to buy securities was an attempt to use information available to plaintiff corporation because one of its officers was an officer of the bank, in order to secure a preference over other creditors of the bank.
See Callaghan's Illinois Digest, same topic and section number.
Appeal from Superior Court of Cook county; Hon. GROVER C. NEIMEYER, presiding.
Affirmed. Heard in first division, first district, this court at October term, 1939.
Charles A. McDonald and Gustave B. Ehnborn, for appellant;
Gustave B. Ehuborn, of counsel;
Jetzinger Quinn, for appellee.
"Not to be published in full." Opinion filed June 24, 1940.